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VICTORIS
Budget Express 2026

co-presented by

  • LIC
  • JIO BlackRock

ASSOCIATE SPONSORS

  • Sunteck
  • SBI
  • Emirates
  • Dezerv

Indian Indices - Live Markets

MARKET HIGHLIGHTS
Feb 12, 15:59 IST

Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities

The domestic equity market witnessed a weak start on Thursday, with the Nifty opening sharply lower amid a broad sell-off in IT stocks. Persistent concerns over the potential impact of fast-growing AI start ups on traditional IT service companies triggered heavy pressure across the IT stocks. As a result, the Nifty IT index slumped 5.51%, dragging the benchmark indices lower through the session.

Despite the initial gap down move, the Nifty managed to stabilise somewhat but eventually closed near the 25800 mark, down 0.57%, forming a bearish candle with a minor lower shadow on the daily chart. The candle pattern reflects intraday attempts at recovery, although overall sentiment remained cautious.

From a technical standpoint, the benchmark index is still holding above its key moving averages, suggesting that the broader uptrend structure remains intact. However, momentum indicators point towards sideways consolidation in the near term, indicating a potential pause before the next directional move.

Among the Nifty constituents, Bajaj Finance and Shriram Finance emerged as top gainers, helping cushion some of the downside pressure in the index. On the other hand, IT majors Tech Mahindra, Infosys, and TCS featured among the top laggards following sector specific headwinds.

Sectorally, the market action was largely negative. Nifty IT and Nifty Realty were the biggest losers. Meanwhile, Nifty Financial Services and Nifty Consumer Durables managed to close in the green, displaying relative strength compared to the broader market.

The broader market also felt the heat of selling pressure. Both the Nifty Midcap 100 and Nifty Smallcap 100 ended in the red, though they witnessed a mild pullback from intraday lows, indicating some buying interest at lower levels. Market breadth remained weak, with the Advance/Decline ratio skewed in favour of declines. Within the Nifty 500 universe, as many as 371 stocks closed lower, underscoring the widespread nature of the correction.

Nifty View

Going ahead, for Nifty, the 50-day EMA zone of 25700-25670 will act as important support for the index. On the upside, the zone of 25900-25940 will act as an immediate hurdle for the index. Any sustainable move above 25940 will lead to a further upside rally up to the 26100 level in the short term.

Bank Nifty View

For the fourth consecutive trading session, the banking benchmark index Bank Nifty continued to trade in a narrow range of 432 points, which was the narrowest range in the recent period. Also, it is forming a small body candle, which shows a lack of commitment from both bulls and bears.

Looking ahead, the zone of 61200–61300 will be the immediate resistance to watch. A sustained breakout above 61300 has the potential to trigger further upside towards 61800, and eventually 62400 in the short term as momentum builds. On the flip side, the zone of 60400–60300 will act as a key support area for the index. As long as Bank Nifty holds above this support band, the broader structure is expected to remain positive, with dips likely to attract buying interest.

Feb 12, 15:29 IST

Ravi Singh, Chief Research Officer at Master Capital Services

Indian IT companies have been under pressure since last one year, and the weakness isn’t coming from one isolated event — it’s a mix of factors. After a strong run over the past year, where many IT names had attractive valuations, markets have started focusing more on near-term growth concerns. Global tech sentiment has turned soft, particularly after big U.S. tech names corrected, which naturally spills over into Indian IT.

At the same time, clients in the U.S. and Europe are being more cautious with discretionary IT spends, especially on older projects, until budgets are clearer. The talk around AI has made this worse — instead of boosting confidence, it has created uncertainty about how fast traditional service models might change.

It’s a mix of both. The AI angle has definitely been blown out of proportion. People tend to jump from “AI can change how work is done” to “AI will wipe out IT jobs tomorrow,” which isn’t realistic. Indian IT firms are adopting AI tools themselves and selling AI-enabled services to clients, not standing still. So the panic around AI alone doesn’t justify this drop. That said, there are real structural questions investors are asking — how fast will traditional services slow down, what will happen to pricing power, and whether margins hold up as automation increases. So while some of the selling is an emotional reaction, the market is also pricing in slower growth and margin pressure.

For long-term investors, this isn’t a time to panic but a time to be selective. Weakness offers a chance to add to high-quality IT names that have strong balance sheets and solid global client relationships. Instead of buying everything indiscriminately, it makes sense to accumulate in stages on dips and watch for clear signs of stability — both in macro trends and earnings expectations. For short-term traders, waiting for a confirmed reversal pattern or technical support being respected before taking fresh positions can help manage risk. In short, patience and selectivity matter more than ever — this sell-off looks like a valuation reset and sentiment dip, not a structural breakdown of the sector.

  • Advances 21
  • Declines 29
  • Unchanged 0

Live Markets

Name LTP Chg %Chg Open High Low 52 Week High 52 Week Low Technical Rating
Key Indices

NIFTY 50

25,807.20 -146.65 -0.57 25,906.70 25,906.70 25,752.40 26,373.20 21,743.65 Technical Rating

NIFTY BANK

60,739.75 -5.60 -0.01 60,786.15 60,864.40 60,597.65 61,764.85 47,702.90 Technical Rating

NIFTY Midcap 100

60,470.85 -283.70 -0.47 60,695.80 60,699.55 60,194.10 61,548.85 46,865.70 Technical Rating

NIFTY NEXT 50

69,916.10 -300.45 -0.43 70,221.80 70,223.65 69,605.70 70,833.65 56,192.45 Technical Rating

NIFTY 100

26,448.05 -144.25 -0.54 26,552.25 26,552.25 26,381.90 26,975.15 22,177.35 Technical Rating

Nifty 200

14,425.50 -76.65 -0.53 14,481.75 14,481.75 14,385.60 14,700.95 11,941.45 Technical Rating

NIFTY 500

23,651.55 -131.50 -0.55 23,753.80 23,753.80 23,589.05 24,144.20 19,519.85 Technical Rating

NIFTY Smallcap 100

17,344.10 -110.90 -0.64 17,433.15 17,435.00 17,275.20 19,224.95 14,084.30 Technical Rating

NIFTY MIDCAP 50

17,251.50 -78.55 -0.45 17,323.30 17,325.45 17,184.70 17,572.45 13,269.65 Technical Rating

NIFTY SMLCAP 50

8,478.10 -38.90 -0.46 8,505.00 8,505.00 8,435.60 9,282.70 6,776.05 Technical Rating

India VIX

11.72 0.17 1.47 11.54 12.10 10.84 23.18 8.72 Technical Rating

NIFTY 750 TOTAL MKT

13,268.15 -73.50 -0.55 13,325.60 13,325.60 13,234.15 13,325.60 0.00 Technical Rating
Sectoral Indices

NIFTY Auto

28,504.05 -34.65 -0.12 28,607.15 28,615.05 28,360.10 29,179.10 19,316.65 Technical Rating

NIFTY IT

33,160.20 -1,934.95 -5.51 34,439.00 34,488.80 33,058.20 42,263.05 30,918.95 Technical Rating

NIFTY PSU Bank

9,229.45 -20.75 -0.22 9,246.90 9,294.60 9,186.55 9,294.60 5,530.35 Technical Rating

NIFTY Fin Service

28,385.20 108.25 0.38 28,263.80 28,413.85 28,231.95 28,413.85 22,819.90 Technical Rating

NIFTY Pharma

22,386.30 -47.90 -0.21 22,486.10 22,486.10 22,248.65 23,492.55 19,121.10 Technical Rating

NIFTY FMCG

51,885.75 -266.35 -0.51 52,212.70 52,221.75 51,571.50 58,485.05 49,336.50 Technical Rating

NIFTY Metal

12,279.20 2.65 0.02 12,257.30 12,325.10 12,206.45 12,509.75 7,690.20 Technical Rating

NIFTY Realty

842.35 -12.40 -1.45 852.85 853.20 839.45 1,049.70 742.20 Technical Rating

NIFTY Media

1,474.05 -19.55 -1.31 1,489.40 1,492.65 1,469.40 1,786.15 1,313.85 Technical Rating

NIFTY Energy

36,452.65 -204.60 -0.56 36,693.85 36,767.35 36,276.50 36,938.90 29,313.20 Technical Rating

Nifty Pvt Bank

28,987.05 -29.15 -0.10 29,037.95 29,088.25 28,940.20 29,748.45 23,783.15 Technical Rating

NIFTY Infra

9,663.30 -18.80 -0.19 9,696.35 9,696.35 9,631.30 9,792.60 7,589.95 Technical Rating

NIFTY Commodities

10,019.90 -41.55 -0.41 10,063.45 10,069.30 9,968.95 10,069.30 7,502.95 Technical Rating

NIFTY Consumption

11,976.50 -35.90 -0.30 12,017.85 12,020.40 11,942.35 12,716.20 10,090.65 Technical Rating

NIFTY PSE

10,348.50 -37.35 -0.36 10,400.00 10,435.85 10,285.60 10,456.15 7,956.45 Technical Rating

NIFTY Services

33,409.40 -227.10 -0.68 33,509.85 33,515.80 33,355.35 34,549.75 29,070.85 Technical Rating

Nifty FinSrv25/50

30,967.60 122.55 0.40 30,826.65 30,998.05 30,776.80 30,998.05 0.00 Technical Rating

Nifty Cons Durbl

38,110.10 153.20 0.40 37,875.05 38,186.65 37,625.75 40,472.45 32,205.30 Technical Rating

Nifty Healthcare

14,507.05 0.35 0.00 14,543.75 14,543.75 14,401.30 15,144.95 12,561.70 Technical Rating

Nifty Oil & Gas

12,205.55 -146.75 -1.19 12,371.05 12,394.95 12,137.80 12,445.70 9,327.50 Technical Rating

NIFTY India Mfg

15,781.80 -26.90 -0.17 15,816.55 15,816.60 15,713.35 15,816.60 0.00 Technical Rating

Nifty India Defence

8,064.45 58.05 0.73 7,996.40 8,090.05 7,938.80 8,090.05 0.00 Technical Rating
Other Indices

NIFTY MIDCAP 150

22,252.40 -112.00 -0.50 22,350.40 22,351.55 22,160.60 22,650.05 17,269.50 Technical Rating

NIFTY MIDSML 400

20,022.35 -116.50 -0.58 20,127.50 20,128.20 19,947.70 20,668.15 15,832.85 Technical Rating

NIFTY SMLCAP 250

16,250.15 -119.75 -0.73 16,362.55 16,363.60 16,201.85 18,077.35 13,314.70 Technical Rating

NIFTY MNC

31,422.35 -72.90 -0.23 31,566.55 31,571.05 31,302.95 31,603.15 23,981.05 Technical Rating

NIFTY AlphaLowVol 30

27,355.90 127.00 0.47 27,257.95 27,371.50 27,172.45 27,371.50 0.00 Technical Rating

Nifty200 Momentum 30

31,892.30 237.05 0.75 31,651.60 31,908.55 31,529.20 31,908.55 0.00 Technical Rating

Nifty LargeMid250

16,769.60 -87.90 -0.52 16,839.55 16,839.55 16,715.80 17,077.75 13,526.30 Technical Rating

Nifty500 Mul50:25:25

16,298.75 -94.85 -0.58 16,376.85 16,376.95 16,257.55 16,681.75 13,318.60 Technical Rating

NIFTY CPSE

6,959.30 8.55 0.12 6,962.15 7,002.00 6,916.45 7,002.00 5,284.25 Technical Rating

NIFTY MID SELECT

13,893.50 -59.30 -0.43 13,934.80 13,935.30 13,835.95 14,118.40 10,382.55 Technical Rating

NIFTY IND DIGITAL

8,596.75 -267.20 -3.01 8,769.95 8,774.20 8,578.70 9,723.25 7,334.40 Technical Rating

NIFTY M150 QLTY50

23,702.85 -265.30 -1.11 23,952.70 23,954.30 23,635.85 23,954.30 0.00 Technical Rating

Nifty Microcap 250

22,232.90 -110.65 -0.50 22,333.65 22,334.10 22,161.15 22,334.10 0.00 Technical Rating

Nifty Capital Market

4,912.65 -7.35 -0.15 4,913.75 4,924.75 4,872.90 4,924.75 0.00 Technical Rating
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